About
This blog records my journey to financial independence. The goal is to educate others, helping them develop skills in investments and finances.
I'm 23 years old with a negative net worth of about $10,000. I currently work as a Data Analyst at a large insurance company. At 21 years old, I went 50/50 with my Mom and purchased my first home in Cleveland, OH. My initial goal buying this home was to use it as a rental once I eliminate the private mortgage insurance. In addition to my 40 hour work week, I tutor ACT prep to high school students and officiate wrestling matches. Just for fun, I also dabble in poker every once in awhile.
My ultimate goal is to be financially independent within 10 years. My current expenses are around $25,000/ year. Ideally, I prefer to make $45,600 (pre-tax) in passive income by the time I'm 33. If I were to only invest in real estate (breaking it down monthly), I would need to own 38 units with cash flowing $100 each.
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Year 1 (2020) Goals: Own half of a student rental. This will be the first of 33.
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Years 2-5 (2021-2025) Goals: All student loan debt will be paid off. Plan to acquire one rental per year for the first 3 years and 2/ year for the last 2 years bringing my total to 8.
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Years 6-10 (2026-2030) Goals: I will be aggressively buying property these years. At this point in time, I would like to purchase multiple small apartment complexes. The goal is to obtain 5 properties each year bringing the total to 33.